This study applies wavelet coherency analysis to explore the relationship between the U.S. economic growth volatility, and income and wealth inequality measures over the period 1917 to 2015 and 1962 to 2014. We consider the relationship between output volatility during positive and negative...

Education has been one of the key determinants of economic growth around the world since 1965. In this paper, we discuss three different measures of education, and consider their relationship to the distribution of income as measured by the Gini coefficient as well as to economic growth across...

When types of workers are imperfect substitutes, the Mincerian rate of return to human capital is negatively related to the supply of human capital. We work out a simple model for the joint evolution of output and wage dispersion. We estimate this model using cross-country panel data on GDP and...

A fundamental requirement of market economies is the security of ownership claims to property. Yet history is littered with cases of challenges to these claims. A large literature has found contradictory evidence for the effect of income and income inequality on revolt, possibly due to omitted...

This study applies wavelet coherency analysis to examine the relationship between the U.S. per capita real GDP and six income inequality measures over the period 1917 to 2012. Wavelet analysis allows the simultaneous examination of correlation and causality between the two series in both the...

This article examines the relationship between financial development and income inequality for selected EU countries by using fixed effects panel data estimator over the years 2004-2015. Our empirical results show that financial development ultimately causes an increase in income inequality...

A fundamental question in social sciences relates to the effect of wealth inequality on economic growth. Yet, in tackling the question, researchers have had to use income as a proxy for wealth. We derive a global measure of wealth inequality from Forbes magazine's listing of billionaires and...

Europe aims at combining income growth with improvements in social cohesion as measured by income and health inequalities. We show that, theoretically, both aims can be reconciled only under very specific conditions concerning the type of growth and the income responsiveness of health. We...

Although property rights are the cornerstone of capitalist economies, throughout history existing claims have been frequently overturned and redefined by revolution. A fundamental question for economists is what makes revolutions more likely to occur. A large literature has found contradictory...